How to Implement a Marketing Strategy That Speaks to Your Millennial Audience

Depending on whom you ask, Millennials have an interesting reputation.

Ask their parents, teachers, and employers, and I’m sure you’ll get a different response from all of them.

An old Time Magazine cover story labeled Millennials as “lazy, entitled narcissists who still live with their parents.”

Truthfully, I think that’s a bit harsh. But it’s safe to say their character traits are very different from those of the generations that preceded them.

Who are Millennials? Although the time period within which they were born is not exact, the term Millennials, also known as Generation Y, generally refers to anyone born during the mid 1980s to the mid 1990s.

Some people even consider anyone born in the early 2000s as a Millennial. But for the most part, anyone born after the late 1990s is labeled as Generation Z.

Why is it important for you as a business owner to recognize this group of people? For starters, this generation constitutes the largest slice of the total population in the United States.

If you are currently targeting Millennials, this guide will help you improve your efforts.

If you haven’t implemented a marketing strategy aimed specifically at Millennials, it’s not too late to start. I’ll explain everything you need to know to help you target the Millennial consumer.

Speak to their entrepreneurial spirits

Before you can start marketing to anyone, you need to try to understand how they think and behave. Develop a customer persona as a research tool.

One of the elements of this type of marketing tool is the ability to analyze the consumer’s work habits. Unlike previous generations who got jobs and stuck with them until they retired, Millennials have other ambitions.

In fact, 54% of Millennials want to start their own companies or have already started one.

That’s because they want their lives and schedules to be more flexible compared to the stereotypical workweek. In fact, 89% of this group say they would rather decide themselves when and where to work as opposed to working a standard nine to five job.

Further, 45% of Millennials would choose a job with a more flexible schedule rather than a higher pay rate.

Millennials are happy renters and don’t necessarily plan to buy a home in the foreseeable future.

As you can see, there are other characteristics that this group looks for when it comes to their housing situations. They prefer apartments as opposed to houses.

This may have to do with their flexible lifestyle. They may not have, need, or want the possessions and furniture to fill the larger space of a house.

From a marketing perspective, you need to recognize this if you sell products related to the home furnishings industry. You need to adjust your marketing campaigns accordingly to target Millennials.

They won’t spend thousands of dollars on a couch if they know it’s only going to be kept in their apartment for a year during a short lease.

If they plan on changing jobs and moving, they may opt to leave behind big furniture or sell it themselves. They won’t make a big investment in these products.

Millennials also want to live in lively communities. They want proximity to local shops, restaurants, cafes, and bars. It’s important for them to find areas where they can walk, bike, and have easy access to public transportation.

We also know that 76% of Millennials who pay rent also own a pet. Marketers can build a customer persona as a pet owner.

Furthermore, it’s important to understand that the majority of Millennials pay rent because they want to.

Studies show that 60% of this group chooses to rent, while 40% say they can’t afford a down payment to buy something.

Marketers need to sell products and services that accommodate the needs of Millennial renters. If you’ve got an advertisement featuring a young adult in their newly purchased home, it’s probably not going to speak to Millennials because they can’t relate to that situation.

Don’t insult their intelligence

Despite what you may think about their character traits or work ethic, you can’t ignore the fact that Millennials are smart.

Don’t believe me? Well, more than one-third of Millennials have at least a four-year college degree. This makes them the highest educated group in the country.

And 87% of Millennials worked up to management roles in their workplaces over the last five years. This compares to just 38% of Generation X-ers and 19% of Baby Boomers who achieved that during the same time frame.

It wouldn’t be wise for marketers to try to outsmart this demographic.

Yes, you’re trying to sell them something. Embrace it. Don’t try to trick them or have some kind of hidden agenda. They will be more willing to trust a company that is straightforward with their marketing strategy.

Be charitable and socially responsible

Millennials care about people and the planet.

If your company supports a cause, it increases the chances that Millennials will buy something from your brand.

Here’s a great example of this type of strategy put to use with the Warby Parker “buy a pair, give a pair” campaign:

The company donates glasses to people across the world who have vision problems and can’t afford help. This type of campaign will speak to a Millennial target market.

That’s because 81% of Millennials say they expect businesses to make a commitment to corporate citizenship. And 62% of this demographic say they expect executives and company leaders to focus their efforts on making improvements to society.

Partnering with the right causes and charities can help you with your sales.

First of all, it’s just the right thing to do. You’ll even get tax write-offs for your donations. But second, it will help you reach your Millennial audience and encourage more purchases.

Your business obviously needs to be active on social media to survive in 2018.

But when it comes to your Millennial marketing strategy, social media needs to be at the top of your priority list.

Meet their travel needs

Earlier I discussed how Millennials live. They live in rental apartments to have more flexibility in their lives.

But Millennials also want to travel. Take a look at these numbers that prove my point:

Furthermore, 69% of Millennials say they have a thirst for adventure. Brands need to recognize this to stay competitive and reach this demographic.

Don’t just sell a product. Sell a lifestyle.

Run ads and promotions to position your product within the travel industry. Sometimes you just need to get creative here.

For example, let’s say your company sells backpacks. Rather than running an ad that shows the bag being great for commuting to work or lugging belongings around town, you can demonstrate it’s the perfect backpack as an airplane carry-on bag.

This strategy can be applied to virtually every product. Don’t believe me?

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